Primary Benefits of a VA Home Loan

Always looking for ways to help First Time Home Buyers and what a better way to help a VETERAN than by sharing this information?

WHAT IS A VA-GUARANTEED LOAN?

A VA-guaranteed loan can be used to:

·         buy a home, either existing or pre-construction, as a primary residence

·         refinance an existing loan

BENEFITS OF A VA-GUARANTEED LOAN:

·         Equal opportunity for all qualified Veterans to obtain a VA loan

·         Reusable

·         No down payment (unless required by the lender or the purchase price is more than the

·         reasonable value of the property)

·         No mortgage insurance

·         One time VA funding fee that can be included in the loan

·         Veterans receiving VA disability compensation are exempt from the VA funding fee

·         VA limits certain closing costs a Veteran can pay

·         Can be assumed by qualified persons

·         Minimum property requirements to ensure the property is safe, sanitary, and sound

·         VA staff dedicated to assisting Veterans who become delinquent on their loan

  WHO IS ELIGIBLE?

Generally, the following people are eligible:

·         Veterans who meet length of service requirements

·         Service members on active duty who have served a minimum period

·         Certain Reservists and National Guard members

·         Certain surviving spouses of deceased Veterans

Do you know someone that could benefit from having this information? Please share.